Open for Business

with Jody Glynn Patrick

March 2013

Blending businesses: Different shades of partnership

04/11/13

Blending businesses: Different shades of partnership

It’s relatively easy to form a company today; file a formal online application through the state of Wisconsin (quick, easy, and costs about $150 to establish an LLC) and submit some extra forms come tax time. The real trick, of course, is running a successful business – client acquisition, work fulfillment, invoicing, and paying taxes on time – at a profit. The good news is that there are innovative ways to collaborate with one or more business partners without creating a formal partnership entity, and even stand-alone SOHOs (sole ownership, home office) can legitimately recruit and add “and associates” to their business identity, sharing the risk of business ownership with other like-minded entrepreneurs. Here’s how.

Posted at 07:21 AM | Permalink | Comments

Four approaches to volunteer service

03/26/13

Four approaches to volunteer service

Due to the recession, disaster donation requests (the East Coast flood last year and Sandy Hook come to mind), and reduced portfolio lending ability, area nonprofits are more reliant than ever on volunteer help. They’ve trimmed budgets and staff, and sadly, many have also cut back wherever possible programmatically at a time when their services are most in demand. So in this perfect storm, with less-than-perfect cash reserves, how can you – as one person or part of a company culture – jump in?

Posted at 12:12 PM | Permalink | Comments

Crowd-source funding: The new money stream

03/21/13

Crowd-source funding: The new money stream

I alluded to a relatively new funding phenomenon a couple weeks ago when I said I was donating to an autism project fundraising effort, but the crowd-sourcing website Kickstarter merits more discussion. Crowd-source funding has been around for a while now, but Kickstarter takes it from a loan platform to a pure investment model, and that’s something new.

Posted at 08:04 AM | Permalink | Comments: 1

Resignation blues and lessons learned

03/14/13

Resignation blues and lessons learned

If you’ve been a manager for only a short while, let me forewarn you that one day, possibly in your immediate future, an employee will walk into your office sniffling “my-grandmother-just-died” tears, and quietly close the door. At the same time that you’re formulating a compassionate response and a promise to let them take paid funeral leave, they mumble something about an “opportunity too good to pass up” and “two weeks’ notice.”

Posted at 07:45 AM | Permalink | Comments: 1

Help nailing a government contract

03/07/13

Help nailing a government contract

When all we’re hearing on the news is how government entities are about to cut every public service and department you count on, you’re probably thinking that now is not the time to enter the government-as-customer circus ring. However, you’d be wrong. As more and more bids undergo closer scrutiny, you may actually have a better chance to sell reasonably priced goods – if you understand which direction the door swings and how to get your business past the threshold.

Posted at 08:58 AM | Permalink | Comments